When the penalty kick rule was first introduced to English football in the late 1880s, it was greeted with horror by the Corinthians, the dominant team of the day. So engrained were principles of honour and decency in these ex-public schoolboys that they would not accept that an opponent might deliberately break the rules to gain an advantage. Their response was to refuse to score from a penalty on the grounds that it was ungentlemanly. Disadvantaged in this way, Corinthians began a decline as they struggled to compete against the more ruthless professional clubs that were emerging.

Now I'm wondering: does a similar fate lie in store for decent Twitter users like you and me?

You don't often hear phrases like "305% ROI" attached to discussions about social media, so I was delighted to read, via Kipp Bodnar, about Forrester's recent research into "live chat" as a sales tool. Now, live chat is arguably a small subset of the wider social media sphere, but when it attracts serious figures from a serious researcher like Forrester, companies are going to sit up and take notice (if they haven't already). Basically, the point of the research was to show that having a "live" person manning the chatroom, fielding enquiries from prospects, is a sound investment for 'big-ticket' B2B sales.

An astonishing email exchange yesterday confirmed to me that many editors are running scared at the prospect of user-generated content making their role redundant.

I'll share the contents of the email with you. It is an email I received when I simply suggested to the editor of a well-known marketing publication that it might be useful to be able to comment on his editorial, a link to which had come to me in the magazine's weekly summary.

John,
We are a magazine, not a blog. I don't share your view that the point is to get a conversation going - what outcome do you expect from that? A change in my opinion? A shift in coverage? That way I'd stop being an editor and would end up just acting like a traffic warden.

What outcome would I expect? Well, how about a more complete, balanced and therefore useful information resource? And, in turn, more satisfied readers? It doesn't surprise me that editors are feeling defensive. Don't get me wrong: the originator of this email knows his industry and is far better placed than most others (including me) to make a judgment on it. And I appreciate that an editorial is, traditionally, a one-way expression of opinion.

But is he so sure of himself that, in this age of user power, he should stand by his editorial position without regard for what his readers think? He doesn't have to change opinion, but he does need to give his readers the best chance of forming their own. With this attitude, no wonder subscription numbers are falling, magazines are going out of business, and the role of the editor is in jeopardy.

Or is it? The industry's more forward-thinking publishers are using the surge in user-generated comment and content to make their brand more valuable, not less. In an example where I am pleased to be able to name names, we see B2B Marketing Magazine going from a glossy print edition when it was first launched to a multi-media, interactive, news and opinion channel that is growing in popularity, not shrinking. Editor Joel Harrison tells me how delighted he is at being able to provide a platform for a wider range of voices. The magazine has gone well beyond the traditional magazine format, and is now complemented by a vibrant, two-way web portal, featuring blogs, comments, webcasts and the like. Joel's approach to information gathering, management and presentation has made it an invaluable resource for B2B marketers.

Editors like this are welcoming the new information channels. They are simultaneously creators and moderators of content that the readers want to read. They are not running scared, they are staying put - and chairing the debate.

This morning, in our little corner of south west London, it’s raining. But looking for an umbrella as I left the house, I was reminded of how effective a really good promotional item can be. When everyone’s talking about social media, the Buyersphere and the web generation, it’s heart-warming to know that the real, tangible side of marketing is still alive, well and that there are people going beyond the usual ‘giveaway’ fare we are all so used to.